En liten kommentar om shippingindexet Baltic Dry i nyhetsflödet idag:
The gauge may rebound to 4,000 points as local governments encourage factory output, especially of steel, Kong Fanhua, a senior researcher at the company, said in an interview. "If you believe in a China story, believe in a recovery in the shipping market," Kong said today. The index ended yesterday at 2,192.
Iron ore is the biggest dry-bulk cargo moved by sea, and China is the top consumer of the steelmaking material. The Baltic Dry Index, regarded by some investors as a proxy for shifts in global commodity demand, peaked this year at 4,291 in June as China's stimulus package revived demand.
The fourth quarter is the "traditional high season" for coal consumption, which should boost the shipping trade, Kong said in Singapore, where he's attending an industry conference.
Talks on iron prices for next year between suppliers and Chinese mills may also drive vessel bookings, he said.
"China's government can't stop the current policy of expansion," said Kong. "It's just like driving a car on a
mountain: if you stop in the middle of the mountain, you'll slide down backward."
Iron ore is the biggest dry-bulk cargo moved by sea, and China is the top consumer of the steelmaking material. The Baltic Dry Index, regarded by some investors as a proxy for shifts in global commodity demand, peaked this year at 4,291 in June as China's stimulus package revived demand.
The fourth quarter is the "traditional high season" for coal consumption, which should boost the shipping trade, Kong said in Singapore, where he's attending an industry conference.
Talks on iron prices for next year between suppliers and Chinese mills may also drive vessel bookings, he said.
"China's government can't stop the current policy of expansion," said Kong. "It's just like driving a car on a
mountain: if you stop in the middle of the mountain, you'll slide down backward."
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